Swedish AI coding startup Lovable has raised $400 million in a Series C round at a $13.3 billion valuation, roughly doubling the $6.6 billion valuation it commanded when it closed its Series B in December. The round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT, with investors including Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent, alongside returning backers Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures. Lovable lets people build software by describing what they want in plain language. Since launching in November 2024, the platform has been used to spin up more than 60 million projects, and apps built on Lovable now draw over 900 million visits a month. The company said it has quadrupled its annual recurring revenue over the past 12 months, reaching employees at nearly two-thirds of the Fortune 500, up from around half a year ago. Since its Series B, it added business-focused features including payment tools, SEO and AI-search discoverability tools, integrations with Google Workspace, Microsoft 365, Salesforce, Stripe, and ElevenLabs, automatic and scheduled security scanning, and a security certification called AIUC-1. Internal survey data shows nearly 8 in 10 users are building a business or side project they hope to monetize